Key Highlights:

OmiseGo set a fresh 10-month high with this latest price surge after reaching a high of $2.23.

Against Bitcoin, OMG is also surging as it reaches a high of around 23,400 SAT.

⠀OmiseGO price:

$1.68

⠀Key OMG resistance levels:

$1.78, $1.90, $2.00, $2.03, $2.23

⠀Key OMG support levels:

$1.60, $1.50, $1.37, $1.27, $1.04

*Price at the time of writing

OmiseGo has been on an extraordinary bullish run this past week after the cryptocurrency managed to surge by a total of around 73%. Furthermore, over the past 30-days of trading, the cryptocurrency has actually managed to increase by a total of 200%.

The cryptocurrency was trading at a price of around $0.58 just 30-days ago as it went on to explode to reach the current $1.74 level. OMG had actually surged even further higher than this to reach a high of around $2.23 today before rolling over toward $1.74.

OmiseGo has been surging every since Coinbase Pro announced that they would be adding it to their trading service - allowing OMG to experience the Coinbase Pro effect in full action. Coinbase announced that OmiseGo would actually be added to their full service over the past couple of days which helped OMG continue to rise further higher.

The latest price increase ahs actually caused OmiseGo to place a fresh 10-month high at the $2.23 level, a price not seen since July 2019. The cryptocurrency is now ranked in the 36th position with a $243 million market cap value.

Against Bitcoin, OmiseGo has also been on an absolute rampage. The coin was trading at 12,000 SAT just 2-days ago. It went on to break the 2020 high at 14,000 SAT as it exploded higher to reach as high as 24,000 SAT. The coin has since dropped slightly and is now trading at 18,900 SAT.

OmiseGo Coin Price Analysis

What has been going on?

Taking a look at the daily chart above, we can see that OmiseGo surprised everybody with the recent price rise over the past 7-days of trading. The coin was struggling to break the resistance at the $1.00 level but it quickly managed to overcome this to close at the $1.50 level yesterday - breaking the previous 2020 high at $1.48.

OmiseGo continued to travel further higher today as it broke above the resistance at the bearish .382 Fibonacci Retracement level priced at $1.52. This bearish Fib Retracement is measured from the July 2019 high to the 2020 price low. After breaking this, OMG pushed higher to reach the resistance at $2.23 (1.618 Fibonacci Extension level).

It has since dropped lower slightly as it now trades at $1.73.

OmiseGo price short term prediction: Bullish

OmiseGo remains bullish in the short term and would have to drop beneath $1.27 to turn neutral. It would have to continue further beneath $1.00 to turn bearish in the short term.

If the sellers do push OMG lower, the first level of support is located at $1.50. Beneath this, support lies at $1.37, $1.27 (.5 Fib Retracement), $1.20, and $1.04 (.518 Fib Retracement).

Where is the resistance toward the upside?

On the other hand, if the buyers push higher, the first level of resistance is expected at $1.90 (bearish .5 Fib Retracement). Above this, resistance is located at $2.00, $2.03 (1.414 Fib Extension), $2.23 (1.618 Fib Extension), and $2.30 (bearish .618 Fib Retracement).

If the buyers can continue to push beyond $2.50, resistance is then found at $2.68 (1.272 Fib Extension), $2.83 (bearish .786 Fib Retracement), $2.91 (1.414 Fib Extension), and $3.00.

What are the technical indicators showing?

The RSI is well in the bullish favor but is looking extremely overbought. This could be a sign that the bulls are a little overextended and the market may need to drop for a few days before being able to travel higher again.

What has been going on?

Against Bitcoin, OmiseGo has also started to surge quite substantially. The cryptocurrency was trading at the 10,000 SAT level just 5-days ago as it struggled at the 200-day EMA. Once the 200-day EMA was breached, OMG went on to travel higher as it broke the previous 2020 price high at 14,000 SAT yesterday as it reached the 17,500 SAT level.

Today, OMG continued higher to reach as high as 24,000 SAT. It has since dropped lower to trade at around 18,900 SAT.

OmiseGo price short term prediction: Bullish

The break above 14,000 SAT has turned OMG/BTC bullish in the short term. It would need to drop beneath 14,000 SAT to turn neutral again and would have to drop beneath 10,000 SAT to turn bearish.

If the sellers do push lower, the first level of support is located at 17,700 SAT (.382 Fib Retracement). Beneath this, support lies at 15,700 SAT (.5 Fib Retracement), 13,600 SAT .618 Fib Retracement), and 12,000 SAT.

Where is the resistance toward the upside?

On the other hand, if the bulls push higher, the first level of resistance lies at 20,000 SAT. Above this, resistance is located at 23,420 SAT (bearish .382 Fib Retracement), 24,000 SAT, and 25,000 SAT.